Exploring Hydrocarbon Depletion
NEW! Members Only Forums!
Access more articles, news & discussion by becoming a PeakOil.com Member.
I myself was a believer in “peak oil,” or at least a modified form of it. Although I had enough faith in market dynamics to know that higher oil prices would stimulate more oil production and that we weren’t going to “run out” of oil any time soon, I did think that demand from China, India and other developing countries would swamp any marginal increases in oil production that the energy sector could manage. I expected oil prices to hit a new, higher plateau — and I certainly didn’t expect a massive rebound in North American production. Well, I was wrong, and I’m honest enough to admit it.
U.S. "tight oil" output to double by 2035: EIA
The U.S. government published its first official forecast for booming "tight oil" production on Monday, estimating that shale formations such as the Bakken in North Dakota will more than double output in the next two decades.
The EIA expects tight oil to account for 20.5 percent of the 5.99 million bpd of the total it expects will be produced in the United States. The 2035 figure is lower than earlier estimates.
Users browsing this forum: Google [Bot] and 12 guests